Q11 · UPPSC current affairs · 15 September 2026 · PIB · India MERCOSUR Preferential Trade Agreement Expansion

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English हिंदी

Consider the following statements regarding the MERCOSUR trade bloc:1.MERCOSUR was established by the Treaty of Asunción in 1991.2.India and MERCOSUR currently have a Comprehensive Economic Partnership Agreement (CEPA) covering all services and investments.Which of the statements given above is/are correct?

A 1 only

B 2 only

C Both 1 and 2

D Neither 1 nor 2

Correct answer: (a) 1 only

Explanation

Statement 1 is correct as MERCOSUR was established by the Treaty of Asunción in 1991. Statement 2 is incorrect because India and MERCOSUR share a Preferential Trade Agreement (PTA), not a comprehensive CEPA covering all services and investments.

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